Showing posts with label plan. Show all posts
Showing posts with label plan. Show all posts

Thursday, February 24, 2011

Ninh Thuan master plan awaits PM's nod

The central province of Ninh Thuan has more than 100km of coastline. Its beautiful beaches and fertile land are the envy of the rest of the country. It is the first province to have its socio-economic master plan drafted by foreign consultancy firms. — VNA/VNS Photo Anh Ton

The central province of Ninh Thuan has more than 100km of coastline. Its beautiful beaches and fertile land are the envy of the rest of the country. It is the first province to have its socio-economic master plan drafted by foreign consultancy firms. — VNA/VNS Photo Anh Ton

HA NOI — Viet Nam's first provincial socio-economic development master plan created by two world renowned consultancy firms has been approved by leaders of central Ninh Thuan Province and is awaiting the nod from the Prime Minister.

Ninh Thuan's socio-economic development master plan to 2020 with a vision to 2030, which was developed on the basis of its nuclear industry, was presented to the Ministry of Planning and Investment in Ha Noi on Tuesday.

"This is the first province in Viet Nam to invite international consultants to construct its master plan. In the past, other provinces usually used proposals developed by domestic research institutes," said Minister of Planning and Investment Vo Hong Phuc.

The coastal province, 60km south of Cam Ranh Airport and 350km north of HCM City, would become Viet Nam's leading nuclear power centre, and needed a new orientation and vision fitting of its new status, he said.

The US$3-million master plan adopts the strategy of "accelerating economic growth" in the next 10 years with four targets: enhancing competitiveness, improving infrastructure, branding and capacity building, and boosting the competence of State agencies in the province.

The blueprint, conceived by Monitor Group from the US and Britain's ARUP, was based on a "diamond framework", a new approach in Viet Nam, to analyse what existed in the coastal central province today that would provide opportunities in the province tomorrow, said the provincial People's Committee deputy chairman, Do Huu Nghi.

The framework, developed by Professor Michael Porter from Havard Business School, was built on observations of regulations and the nature of consumer demand in the province, together with identifying the current stage of the province's development, which Monitor director Chris Malone said were "the most important sources of strength in the plan".

"At different stages of development, they need to focus on different things. So provinces like Ninh Thuan which are at an early stage of development need to focus on identifying the factors that already exist in the province and generating income from those factors, such as using the location or climate in order to generate tourism income," he said.

The province with more than half a million people decided to go for the "fast and sustainable growth" option, which consists of a 19 per cent increase in GDP per year, instead of normal growth of 13 per cent or substantial growth of 22 per cent that were also considered at the beginning.

Nghi said the decision was made after its consultants pointed out that targeted programmes and human resources training couldn't produce immediate results in the coming period.

With that model, Ninh Thuan is expected to reach GDP per capita of US$2,800 in 2020, or 85 per cent of the country's average, with industry and services accounting for 80 per cent of GDP.

The poor province, where average annual income is just over $510, would need VND260,000 billion ($13 billion) in the next ten years for such development.

A unique point about the master plan that differentiates it from others is that it outlines a number of investment projects and their implementation road maps designed to raise the capital.

"The consultants contacted potential investors while working on the master plan to ensure its feasibility," said Nghi.

ARUP's senior urban designer Slavis Poczebutas said the biggest challenge for them in the one year-long project was to achieve a balance between economic development and an "almost untouched beautiful countryside" with fertile agricultural land, WWF-preserved forests and a rich maritime ecosystem.

"The type of challenges that Ninh Thuan faces are challenges that we see all around Viet Nam. It's important how the country uses the coastal economy to create jobs and increase prosperity," said Malone.

How the province developed its economy in a way that would genuinely help the poor and cope with climate change was important at this stage of development, he said.

The consultant also said tourism and Viet Nam's first nuclear power plant, construction of which would start in 2014, would definitely be able to co-exist if there was an integrated plan in advance.

"There's more than 100km of coastline in Ninh Thuan. The tourism areas are located in the far north while the industrial zones and nuclear power plant will be located in the south," he said. — VNS

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Wednesday, January 5, 2011

LG Elec says Android 2.2-based tablet plan dropped

SEOUL - LG Electronics Inc said on Monday that it had scrapped a plan to launch a tablet computer based on Google Inc's Android 2.2 operation system known as "Froyo", a decision that may delay the rollout of its first tablet PC slated for next quarter.

The decision could mark another setback for the South Korean company, which is seeking to bolster its loss-making handset division with attractive new devices, as its tablet may come too late to a suddenly congested market led by Apple Inc's successful iPad.

"We plan to introduce a tablet that runs on the most reliable Android version ... We are in talks with Google to decide on the most suitable version for our tablet and that is not Froyo 2.2," said an LG official.

The official declined to be named, saying LG had yet to decide on the timing for its tablet launch.

BlackBerry maker Research In Motion Ltd unveiled its PlayBook tablet last week in the fast-growing market that is becoming more crowded with the likes of Samsung Electronics Co Ltd and Dell Inc.

LG, the world's No.3 mobile phone maker but a laggard in the booming smartphone market, introduced the Optimus One smartphone in Korea this week before launching global sales through about 120 carriers with a sales target of 10 million units.

Its smartphones have yet to reach the 1 million unit sales mark and LG is betting on strong demand for Android-based smartphones to help put it firmly back on the recovery path.

The company ousted its chief executive last month, replacing him with a founding family member, and named new heads for its mobile phone and TV division last week in a sweeping reshuffle to shore up core operation.

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Friday, October 15, 2010

HCM City needs East-West balance

An overview of HCM City. Experts say it needs to develop a master plan with high feasibility and long-term vision for better management and adjustment. — VNS Photo Viet Thanh

An overview of HCM City. Experts say it needs to develop a master plan with high feasibility and long-term vision for better management and adjustment. — VNS Photo Viet Thanh

HCM CITY — HCM City needs to create a master plan that balances real-estate growth in the eastern and western parts of the city, according to Singaporean experts.

Commenting on the city's development plan to 2020 in a recent meeting with city authorities, James Chew of the Singaporean Planning Institute said most real estate projects had been focused in districts 2 and 9 in the eastern part of the city.

Chew advised city authorities to develop a long-term vision and divide the development plan into many sections for better management and adjustment.

Insufficient infrastructure still existed in some parts of the city, he said, adding that traffic congestion would worsen if high-rises of 68 storeys, for example, were located on an 8-metre-wide road.

Other experts said the city should invest more in planning because of the high urbanisation rate in the country.

Paul James, general director of Vina Projects, said the rate in 1999 was 28 per cent but was expected to rise to 45 per cent by 2020.

"Good planning will help residents in urban areas enjoy a better standard of living," James said.

Chew said that quality professional planning would help the city be more appealing to investors, who would be more inclined to pour money into areas like the new Thu Thiem Urban Area in District 2.

Several experts at the meeting told authorities they should develop a master plan that has high feasibility, transparency and a long-term vision, with ample opportunities for investment. — VNS

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Thursday, October 7, 2010

Private firms may back resettlement

HCM CITY — HCM City authorities have invited the private sector to invest in the city's half-completed resettlement plan for canal-side residents.

Nguyen Van Danh, deputy director of the Department of Construction, said the city wanted the sector to invest in the resettlement projects because the local government's budget was too slim.

Nearly half of the 15,000 canal-side residents of HCM City have already been relocated to flats as part of the city's resettlement plan.

The plan belongs to a city programme to clear the view along canals by demolishing houses along and on the canals, including communities in Tan Hoa – Lo Gom, Tham Luong – Ben Cat, Vam Thuat, Nuoc Len, Doi, and Te canals.

The plan still needs capital for demolition of 7,642 shacks and the resettlement of the families in districts 6,8, and Binh Thanh.

In return for investors demolishing houses, they would receive some vacant land along the canal.

The socialisation of the resettlement plan was piloted in District 8, but failed because 55 invited businesses refused to participate.

Last year, the city assigned a State-run real estate company – RESCO to be the investor of the projects.

The company has completed 629 houses and paid compensation to 784 out of 905 families removed from District 8's U Cay Canal; handed over 600 resettlement flats in District 7's Tan My Area, 176 flats in District 12's An Suong Area and would complete 350 other flats for residents being relocated from District 8's Ba Dinh Wharf.

Many of the resettlers were pleased to move away from their stilted houses by and on the canals. "I had a hard time living by the canal in District 8 as my husband and I had to stay alert at night to bail out the house when the tide got too high," said Huynh Thi Hong, a new resident in Tan My Apartments.

Nguyen Ho Hai, deputy chairman of District 8 People's Committee, said the plan had helped beautify the district and improve people's general welfare.

The construction department suggested that the People's Committee attract investors by offering them a 10-year loan of VND100 billion (US$5.1 million)at very low interest.

It also suggested that the occupancy rate on the land be raised. — VNS

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Thursday, September 30, 2010

PM commits to reaching year's economic goals

Workers align a rotor for the Son La hydroelectric facility. Development of electrical resources is one of the key targets in the Government's socio-econmic plan. — VNA/VNS Photo Ngoc Ha

Workers align a rotor for the Son La hydroelectric facility. Development of electrical resources is one of the key targets in the Government's socio-econmic plan. — VNA/VNS Photo Ngoc Ha

HA NOI — Prime Minister Nguyen Tan Dung yesterday urged the Government to do its utmost to achieve the year's socio-economic goals.

Despite positive progress in its economic development plan, the country's economy was still facing challenges on its way to reaching the targeted socio-economic aim, PM Dung said yesterday at the Government's monthly meeting.

Government officials gather every month to review the socio-economic development of the month and discuss measures to stabilise the macro-economics, restrain inflation and ensure the social security for the rest of the year.

The Ministry of Planning and Investment reported that the first eight months of the year.

The industrial production continued to grow,increasing by 15.2 per cent compared to the same period last year, and the trade gap slightly decreased, the ministry said in its report.

Meanwhile, the month's consumer price index grew by 0.23 per cent over the previous month.

Good co-ordination among sectors and localities had helped agriculture improve and kept pandemics under control despite the negative impact of floods and storms, the Ministry of Planning and Investment reported.

Social security had been ensured and people's living standards had been lifted, the ministry reported.

Nevertheless, the Government pointed out shortcomings of the economy, which needed to be made good.

The domestic economy was facing the negative impact of the global market's increasing prices, especially in the last quarter of the year, Government officials said.

Firms and enterprises were still ineffective in mobilising capital sources as bank loan interest rates remained high. Epidemic diseases were at a critical point and still threatened to seriously affect production and people's lives.

The officials also discussed ways to effectively implement the socio-economic development plan next year and in the coming five years.

One of the most discussed issues was how to develop the electricity industry.

The officials agreed on a plan to introduce an open and favourable mechanism to boost electricity production. The Government would favour the socialisation of the industry, calling on the involvement and investment of all economic sectors.

Together with implementing hydro-power projects, the Government would boost the development of natural-energy generated power programmes.

Dung asked the Ministry of Industry and Trade to focus on producing electricity to avoid shortages of power, with Government playing the key role in the field with the support of all sectors. He asked the Government to set the economic growth for the next year at 7.5 per cent.

While the Government was expecting to see its GDP grow at 6.5-7 per cent this year, the consumer price index should be maintained at 7 per cent to make sure the macro-economy stabilised, he said, and the excess of imports over exports was to be kept below 18 per cent.

Dung said policies to support the nation's key programmes would be introduced and the new rural development plan would be on the next five years' economic plan.

In discussion of the 2011-15 economic plan, Government officials said the guarantee of social security should be the key factor. They asked that ministries and sectors review their own targets to set out the single goal for the country.

Special attention needed to be paid to environment protection work and sustainable development, the officials said, adding that the tasks of addressing climate change would also need great effort. Government confirmed its commitment to administrative reform and equitisation in State-run enterprises. — VNS

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Saturday, September 25, 2010

JAL to submit rehab plan including 16,000 job cuts

JAL

After a two-month delay, struggling Japan Airlines was to announce on Tuesday details of a rehabilitation plan that will see thousands of job cuts as well as route closures and debt waivers.

In January the flagship carrier went under with US$26 billion of debt in one of Japan's biggest-ever corporate failures, but has continued flying while it goes through a painful state-led restructuring process.

Since filing for bankruptcy protection in January, JAL was delisted from Tokyo's stock exchange in February and is now going through a court-led restructuring with the help of a government-backed turnaround fund.

JAL was set to submit on Tuesday to a Tokyo court its rehabilitation plan, including a debt waiver worth 521.5 billion yen ($6.2 billion) and up to 16,000 job cuts, reports said.

JAL chairman Kazuo Inamori and president Masaru Onishi were expected to announce details of the plan at a press conference later Tuesday.

Under the scheme approved by Prime Minister Naoto Kan on Monday, JAL will slash roughly 16,000 jobs, or about 30 percent of its group workforce by the end of March 2011, public broadcaster NHK and Kyodo News reported.

JAL's main creditors will offer a 521.5-billion-yen debt waiver.

The court is expected to give its approval in November, with JAL's capital to be reduced to zero and then replenished through a 350-billion-yen capital injection from the government's turnaround body, the reports said.

The carrier will also cut 45 money-losing flight routes, or 30 percent of domestic routes and 40 percent of international routes, from the end of September through the end of March 2011.

Separately, Japanese Transport Minister Seiji Maehara told reporters Tuesday that JAL's revival plan would include the launch of a low-cost airline.

"What's most important is the steady implementation of the rehabilitation plan," he said. "We will supervise for that purpose."

After improving its balance sheet, JAL aims to go public again by the end of 2012.

The government asked charismatic entrepreneur Inamori, founder of high-tech company Kyocera and an ordained Buddhist monk, to turn around the former state-run company.

The ailing carrier delayed submitting its restructuring program to the court by two months until the end of August to give it more time to refine cost-reduction measures.

The company has been negotiating with its creditors for fresh financial support under the program, having faced pressure to speed up its plan to return to health.

Since filing for bankruptcy, JAL has been reducing flights and pulling out of unpopular routes, while being eclipsed by All Nippon Airways as the top Japanese carrier in terms of passenger volume and cargo.

JAL has already said it will scrap 28 international routes and close 11 international bases, while 50 domestic routes will be terminated, along with eight offices.

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IT sector targets $17bln over five years

keyboard

The country's information technology industry has set a revenue target of US$17 billion by 2015, according to the Ministry of Information and Communications.

Software sales revenue would be $2 billion, hardware $12.5 billion and IT services $1.5 billion, the ministry said.

The plan to develop the country's IT industry until 2015 and 2020 has been drafted by the ministry to be submitted to the Government later this year.

Under the draft plan, the average growth rate of the country IT industry would reach 17.5 percent per year by 2015, with the hardware sector increasing 18 percent a year, software by 15 percent and digital content by 20 percent.

Exports will account for more than 60 percent of the total industry revenue.

The plan is to develop three production centres - in software, services and digital content - in HCMC, Hanoi and Danang.

Three strong regions of hardware and electronics will be established in the north, centre and south.

The ministry aims to develop two hardware and electronics businesses with an average revenue of over $2 billion and two software businesses with an average revenue of $200 million a year, plus two digital content businesses with a turnover of above $500 million a year.

Some 50,000 IT engineers would be trained and become proficient in foreign languages.

The draft plan aims to generate Made in Vietnam hardware products for the domestic market, which could be exported to international markets.

Some open source software products would be localised to be used in State agencies. The plan aims to develop a search engine in Vietnamese and three websites on procurement of goods in line with specific culture of Vietnam.

The draft plan envisages Vietnam would be among countries with the most attractive outsourcing industry and HCMC, Hanoi and Danang would be in a group of 10 emerging cities for outsourcing.

The plan also aims to attract over $5 billion in foreign investment for the information technology industry.

 

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Wednesday, September 22, 2010

IT sector targets 17bln USD over five years

The country's information technology industry has set a revenue target
of 17 billion USD by 2015, according to the Ministry of Information and
Communications.


Software sales revenue would be 2 billion USD, hardware 12.5 billion USD and IT services 1.5 billion USD, the ministry said.


The plan to develop the country's IT industry until 2015 and 2020 has
been drafted by the ministry to be submitted to the Government later
this year.


Under the draft plan, the average growth
rate of the country IT industry would reach 17.5 percent per year by
2015, with the hardware sector increasing 18 percent a year, software by
15 percent and digital content by 20 percent.


Exports will account for more than 60 percent of the total industry revenue.


The plan is to develop three production centres - in software,
services and digital content - in HCM City, Hanoi and Da Nang.


Three strong regions of hardware and electronics will be established in the north, centre and south.


The ministry aims to develop two hardware and electronics businesses
with an average revenue of over 2 billion USD and two software
businesses with an average revenue of 200 million USD a year, plus two
digital content businesses with a turnover of above 500 million USD a
year.


Some 50,000 IT engineers would be trained and become proficient in foreign languages.


The draft plan aims to generate Made in Vietnam hardware products for
the domestic market, which could be exported to international markets.


Some open source software products would be localised
to be used in State agencies. The plan aims to develop a search engine
in Vietnamese and three websites on procurement of goods in line with
specific culture of Vietnam.


The draft plan
envisages Vietnam would be among countries with the most attractive
outsourcing industry and HCM City, Hanoi and Da Nang would be in a group
of 10 emerging cities for outsourcing.


The plan also aims to attract over 5 billion USD in foreign investment for the information technology industry./.

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IT sector targets $17b over five years

HA NOI — The country's information technology industry has set a revenue target of US$17 billion by 2015, according to the Ministry of Information and Communications.

Software sales revenue would be $2 billion, hardware $12.5 billion and IT service $1.5 billion, the ministry said.

The plan to develop the country's IT industry until 2015 and 2020 had been drafted by the ministry to be submitted to the Government later this year.

Under the draft plan, the average growth rate of the country IT industry would reach 17.5 per cent per year by 2015, with the hardware sector increasing 18 per cent a year, software by 15 per cent and digital content by 20 per cent.

Exports would account for more than 60 per cent of the total industry revenue.

The plan was to develop three production centres - in software, services and digital content - in HCM City, Ha Noi and Da Nang.

Three strong regions of hardware and electronics would be established in the north, centre and south.

The north, including Ha Noi, Hai Duong, Bac Ninh and Vinh Phuc provinces would earn a revenue of $5 billion; the central region of Da Nang and Thua Thien-Hue would post a revenue of $700 million; the southern region of HCM City and Binh Duong, Dong Nai provinces would earn a turnover of $6 billion.

The ministry aimed to develop two hardware and electronics businesses with an average revenue of over $2 billion and two software businesses with an average revenue over $200 million a year, plus two digital content businesses with a turnover above $500 million a year.

Some 50,000 IT engineers would be trained and become proficient in foreign languages.

The draft plan aimed to generate Made in Viet Nam hardware products for the domestic market, which could be exported to international markets.

Some open source software products would be localised to be used in State agencies. The plan aimed to develop a search engine in Vietnamese and three websites on procurement of goods in line with specific culture of Viet Nam.

The draft plan envisaged Viet Nam would be among countries with the most attractive outsourcing industry and HCM City, Ha Noi and Da Nang would be in a group of 10 emerging cities for outsourcing.

The plan also aimed to attract over $5 billion in foreign investment for the information technology industry. — VNS

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Saturday, September 18, 2010

Ideas sought on Mekong Delta investment plan

CAN THO CITY — The Central Institute for Economic Management (CIEM) and the Southwestern Region Steering Committee on Thursday held a seminar to hear opinions about a draft plan on investment in the Cuu Long (Mekong) Delta.

The CIEM, which is under the Ministry of Planning and Investment, has drafted the plan with the aim of evaluating the potential and the obstacles in developing and attracting investment.

Despite having an advantageous location, the Delta has a slower economic growth rate than the country's other regions, according to the CIEM's research group.

Although the Delta's GDP accounted for 23 per cent of the country's GDP in 1993, the rate has fallen to 15-16 per cent.

In 1988-2009, foreign direct investment capital was only US$8 billion, accounting for only 4 per cent of the country's total FDI, according to the ministry's Foreign Investment Agency.

In 2009, the Delta attracted 31 FDI projects with total registered capital of $55.6 million.

Kien Giang, Soc Trang, An Giang and Ca Mau provinces did not attract any FDI project in 2009.

The Delta's inadequate infrastructure and low-quality labour force are the two main obstacles in attracting investment, according to the research group.

Seminar participants said the Government should help support the Delta in solving its problems and have specific policies to attract investment.

They also petitioned the Government to approve a socio-economic development plan for the Delta and the Delta's key economic zone with four priority sectors: rice, seafood and fruit cultivation and tourism development.

They also proposed that the Government invest in building a multi-purpose irrigation system for the Delta.

Without such a system, the Delta provinces would not be able to develop rice, fruit and aquaculture cultivation.

Tran Xuan Lich, CIEM deputy director, said the Ministry of Planning and Investment would ask for opinions from the Ministry of Industry and Trade, the Southwestern Region Steering Committee and the People's Committees of the Delta's 12 provinces and its one major city, Can Tho, before finalising the plan.

The plan is expected to be submitted to the Prime Minister next month. — VNS

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Sunday, September 5, 2010

Government urges JV plan for Phu Bai Airport

HCMC – The Government has told the Ministry of Transport to urgently submit a joint venture plan involving foreign investment in developing Phu Bai International Airport in Thua Thien-Hue Province.

In Document 5217/VPCP-KTN, Deputy Prime Minister Hoang Trung Hai ordered the ministry to work with relevant agencies over completion of such a joint venture plan and submit it to the Prime Minister in response to a recent proposal by the Thua Thien-Hue People’s Committee.

Last month, the province wrote to Prime Minister Nguyen Tan Dung, asking him to urge the ministry to finalize the joint venture plan for the 527-hectare airport in the central region.

The province said Middle Airport Corp. had held several rounds of talks with Singapore’s Changi Airports International Pte. Ltd. (CAI) for establishing a joint venture to build Phu Bai into a modern international airport.

The Singaporean airport investment firm was the first foreign investor interested in Phu Bai Airport development and has signed a memorandum of understanding with the Middle Airports Authority of Vietnam in Hanoi in February 2008.

CAI executives had told the Daily after the MOU signing ceremony that the form of its investment in Phu Bai Airport would depend on further discussions with the Vietnamese side as well as studying the potential and operation of this airport.

In August last year, the Prime Minister approved in principle a joint venture of Vietnamese and foreign investors to develop Phu Bai Airport, with the Vietnamese side holding a controlling stake.

The transport ministry was told to collaborate with related agencies and Thua Thien-Hue Province to map out plans to set up the joint venture for submission to the Prime Minister before negotiations with the foreign partner.

The order came after the Prime Minister passed a master plan to upgrade Phu Bai Airport between now and 2020, with a vision towards 2030, at a total investment cost of VND12.5 trillion (around US$642 million).

The master plan envisages capital will come from different sources to develop Phu Bai into an international airport able to receive modern aircraft including Airbus A320s, A321s, Boeing B767s and B777-200 LRs.

The airport is expected to handle five million passengers a year in 2020 compared to over 500,000 passengers as currently, and nine million passengers in 2030. The annual cargo volume will reach 100,000 tons in 2020 and 200,000 tons in 2030.

The airport will have parking plots for more than 20 and 43 aircraft in those years respectively. The plan also outlines expansion of the current runway in the next decade before a second runway will be built, possibly after 2030.

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Saturday, September 4, 2010

Government urges JV plan for Phu Bai Airport

HCMC – The Government has told the Ministry of Transport to urgently submit a joint venture plan involving foreign investment in developing Phu Bai International Airport in Thua Thien-Hue Province.

In Document 5217/VPCP-KTN, Deputy Prime Minister Hoang Trung Hai ordered the ministry to work with relevant agencies over completion of such a joint venture plan and submit it to the Prime Minister in response to a recent proposal by the Thua Thien-Hue People’s Committee.

Last month, the province wrote to Prime Minister Nguyen Tan Dung, asking him to urge the ministry to finalize the joint venture plan for the 527-hectare airport in the central region.

The province said Middle Airport Corp. had held several rounds of talks with Singapore’s Changi Airports International Pte. Ltd. (CAI) for establishing a joint venture to build Phu Bai into a modern international airport.

The Singaporean airport investment firm was the first foreign investor interested in Phu Bai Airport development and has signed a memorandum of understanding with the Middle Airports Authority of Vietnam in Hanoi in February 2008.

CAI executives had told the Daily after the MOU signing ceremony that the form of its investment in Phu Bai Airport would depend on further discussions with the Vietnamese side as well as studying the potential and operation of this airport.

In August last year, the Prime Minister approved in principle a joint venture of Vietnamese and foreign investors to develop Phu Bai Airport, with the Vietnamese side holding a controlling stake.

The transport ministry was told to collaborate with related agencies and Thua Thien-Hue Province to map out plans to set up the joint venture for submission to the Prime Minister before negotiations with the foreign partner.

The order came after the Prime Minister passed a master plan to upgrade Phu Bai Airport between now and 2020, with a vision towards 2030, at a total investment cost of VND12.5 trillion (around US$642 million).

The master plan envisages capital will come from different sources to develop Phu Bai into an international airport able to receive modern aircraft including Airbus A320s, A321s, Boeing B767s and B777-200 LRs.

The airport is expected to handle five million passengers a year in 2020 compared to over 500,000 passengers as currently, and nine million passengers in 2030. The annual cargo volume will reach 100,000 tons in 2020 and 200,000 tons in 2030.

The airport will have parking plots for more than 20 and 43 aircraft in those years respectively. The plan also outlines expansion of the current runway in the next decade before a second runway will be built, possibly after 2030.

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